Lucid Stock, Down About 44% This Year, Skyrockets Over 28% After CEO Goes on the Offensive Against Bankruptcy Report: 'So Far From the Facts

Reports of Bankruptcy are Far From the Facts, Silvio Napoli Says

Napoli said that the automaker was “not considering bankruptcy or a transaction to take the company private,” and said that the reports were “false.”

He said that the Board has also not explored any such scenarios.

“As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year,” Napoli said.

He added that the outside advisors had not advised the company to file for bankruptcy and that reports of any such advice were also untrue.

“My priority is clear: turn this company around. That is where the leadership team and I are focused,” Napoli said, adding that the company will be “providing a full up...